This is a Calculation Assignment, not a Writing Assignment, The Scope of the Question is About Assuming a financial transaction as in the August 2020 Transaction then Analyze it be showing the impact of these transactions on the accounting

step 1 - Analyze Business Transactions (Accounting Cycle) Assume that you are the Financial Accountant of a newly started business from your chosen business in August 2020: You are requested to assume the chosen business transactions during the month of August 2020 and analyze it by shown the impact of these transactions on the accounting equation! Step 7 Accounting Cycle - Prepare Financial Statements You are requested using the information of Step 1 to prepare the financial statements of your chosen business for the month of August 2020. Step 2 Accounting Cycle - Journalize Business Transactions You are requested to journalize the assumed transactions for your chosen business during the month of August 2020! Step 3 Accounting Cycle Post Business Transactions Based on the work in step 2 of the accounting cycle (Journalize the transactions), You are requested to Post the assumed transactions for your chosen business during the month of August 2020 Step 4 Accounting Cycle - Prepare Trial Balance Based on the work in step 3 of the accounting cycle [Post Business Transactions), You are requested to prepare the trial balance for your chosen business during the month of August 2020! Step 7 Accounting Cycle - Prepare Financial Statements Based on the work in step 4 of the accounting cycle [Prepare Trial Balance), You are requested to prepare the financial statements for your chosen business during the month of August 2020